- Report of Foreign Issuer (6-K)
March 08 2011 - 8:12AM
Edgar (US Regulatory)
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
REPORT OF
FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of March 2011
Commission File Number: 001-34884
Global Education & Technology Group Limited
9F Tower D, Beijing New Logo
A18 Zhongguancun South Street, Haidian District
Beijing 100081
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1):
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
¨
No
x
If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):
82-
N/A
Global Education & Technology Group Limited
Form 6-K
TABLE OF CONTENTS
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
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Global Education & Technology Group Limited
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By:
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/s/ Yongqi Zhang
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Name:
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Yongqi Zhang
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Title:
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Chief Executive Officer
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Date: March 8, 2011
3
Exhibit 99.1
CORRECTION — Global Education Announces Fourth Quarter and Fiscal Year 2010 Financial Results
BEIJING, March 7, 2011 (GLOBE NEWSWIRE) — In a press release issued earlier today by Global Education & Technology Group Ltd.
(Nasdaq:GEDU) under the same headline, please note that Franchise fees, study abroad consulting services and sales of books and course materials for the year ended December 31, 2010 should have read 23,727. The corrected table follows:
GLOBAL EDUCATION & TECHNOLOGY GROUP LIMITED
Unaudited Condensed Consolidated Statements of Operations
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For the year ended December 31,
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2010
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2009
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2010
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RMB
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RMB
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USD
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Revenues
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Educational programs and services
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321,848
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229,491
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48,765
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Franchise fees, study abroad consulting services and sales of books and course materials
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23,727
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16,739
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3,595
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Total revenues
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345,575
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246,230
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52,360
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Operating costs and expenses
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Cost of revenues
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(152,612
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(101,976
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(23,123
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Selling and marketing expenses
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(92,204
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(64,590
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(13,970
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General and administrative expenses
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(40,431
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(28,968
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(6,126
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Total operating costs and expenses
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(285,247
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(195,534
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(43,219
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Operating income
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60,328
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50,696
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9,141
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Interest income
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7,507
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5,510
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1,137
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Investment income
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—
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3,833
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—
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Foreign exchange losses, net
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(64
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(119
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(10
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Consideration payable fair value change
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(3,887
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—
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(589
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Other income, net
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561
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461
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85
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Income before income taxes
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64,445
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60,381
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9,764
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Income tax expense
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(7,801
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(4,778
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(1,182
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Net income
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56,644
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55,603
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8,582
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Accretion of convertible redeemable preferred shares
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2,038
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(22,083
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309
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Income allocated to participating preferred shareholder
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(14,441
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(18,699
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(2,188
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Net income attributable to ordinary shareholders
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44,241
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14,821
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6,703
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Net income per share:
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Basic
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0.72
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0.30
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0.11
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Diluted
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0.70
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0.30
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0.11
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Weighted average number of shares outstanding:
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Basic
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61,629,049
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49,030,191
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61,629,049
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Diluted
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81,222,352
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49,030,191
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81,222,352
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4
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CONTACT:
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Global Education & Technology Group Ltd.
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Jessica Wang
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IR Senior Officer
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Phone: +86 10 6212 5800 ext 302
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E-mail:
ir@globaleducation.cn
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jessicawang@globaleducation.cn
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ICR LLC.
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Michael Tieu
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Phone: +86-10-6583-7509
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or +1-646-328-2550
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E-mail:
michael.tieu@icrinc.com
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5
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